Why the stock price has increased?
Reliance MediaWorks has zoomed around 37% to Rs 292.95 after the company in its Annual General Meeting (AGM) announced that it will raise long term funds up to Rs 500 crore through Qualified Institutional Placement (QIP). "The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report.
Open - 212.75
High - 299.40
Low - 212.75
Close - 292.95
Previous close (04 Oct 2010) - 213.90
Reliance MediaWorks has zoomed around 37% to Rs 292.95 after the company in its Annual General Meeting (AGM) announced that it will raise long term funds up to Rs 500 crore through Qualified Institutional Placement (QIP). "The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report.
Open - 212.75
High - 299.40
Low - 212.75
Close - 292.95
Previous close (04 Oct 2010) - 213.90
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